AUDUSD short trade on 28/1/25
Pre-Analysis:
- Trade based on trend pullback system
- I have checked with correlation, USD show strength compare to other currency.
- Flow also pointing down.
- Pullback phase believed to complete and ready for a short trade.
- Risk $10, plan to ride this down until recent low.
Entry:
- Made 2 trade for this day.
- First entry time 4:28pm (London session), second entry time 8:06pm prior to New York session.
- Second trade immediate strength meter
- Scratch both trade. First trade on the same day, while second trade scratched on the next day.
- Timing was wrong.
- Correct timing should be on 29/1/25 during Asian session, prior to news release related to AUD CPI data.
- While second trade give a little bit profit, but I haven't convince on the outcome as my entry price wasn't perfect.
- Here where I should enter on 29/1/25.
- The first black arrow was good price to time entry for an aggressive trade. This is base on price look unable to make another run up at an area of support. This was riskier but can pay off good profit.
- An aggressive trade on H4 chart
- This trade may give entry on 28/1/25 (same day as my trade), timing around Asia session.